Quote from: serenitys on April 04, 2014, 08:03:04 AM

Quote from: darklight on April 04, 2014, 07:58:14 AM

Quote from: serenitys on April 04, 2014, 07:53:08 AM

Quote from: marcus_of_augustus on April 04, 2014, 07:46:07 AM

sodl oout bulls might start getting nervous soon ... not so much train leaving station but rocket blasts off unexpectedly.

This is where I am and haven't gotten my first btc yet...waiting on the verification. Scared it'll end up at 900 bucks by Monday or Tuesday when they finally hook me up. Grin

Curious about something if anyone here might know...I read somewhere in this forum something about the value of btc being coded in the math, that it can always be known how much it will be worth and how it will increase in value due to the code or whatever and that it's coded to increase exponentially. If that's knowable because of the code itself then why all the speculation?

It could be based on the reward halving, with the assumption that less BTC being created = lower supply = higher price. For that to work though you are assuming that the demand is there. Theres nothing in the code that says "on this day it is worth $x"

Right - I know it isn't predictable to any given day, but it seemed like what I read was about we'll always know what btc is worth in real value, not artificially inflated or deflated, and based on - which is where it's sketchy but I *think* it was based on something like how many people are buying or making transactions the value is calculated so the ups and downs are knowable.

I've read so friggin much on here it's hard to remember it specifically but that was the impression it gave me - that the match behind bitcoin provides some calculation that tells what the value is and going to be based on use or something.

Anyway, no problem...just curious

Thanks!

Ah yeah people have made loads of graphs linking the price to transactions, Google search trends, number of posts on this forum etc. Thats not really something in the code though, it is more a measure of adoption and since its based on historical data its not really useful for predicting more than an month or so in advance